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Hardman Provides Uganda Production Testing Update, Waraga-1 Oil Discovery

Source: www.gulfoilandgas.com 6/27/2006, Location: Africa

Following our announcement on 22nd June concerning the flow rates from the Waraga-1 well, Hardman has continued to test the lowermost zone over the weekend. Following a shut-in period the well was flowed through a 1? choke at a sustained flow rate of approximately 4,200 barrels of oil per day (bopd). As reported previously the oil is light but waxy, with a low gas to oil ratio. Pressure build-up tests indicate good permeability.

The current operation is preparing for testing of the two shallower oil-bearing horizons in the well, the first of which will commence later this week, before moving to the Mputa location.

Simon Potter, Hardman Managing Director and CEO, commented: “The first flow test of Waraga-1 has exceeded our expectations of well productivity, demonstrating that the reservoir is highly permeable and, despite the waxy nature of the crude oil, that it is highly mobile in a production configuration. The basal sand zone tested here is oil-bearing in all three of the wells drilled so far and, although it appears not to be connected between the locations, is areally extensive so should add up to a significant resource.”

Equities in Block 2 are:
Hardman Petroleum Africa Pty Ltd (Operator) 50.0%
Tullow Oil 50.0%

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